Julia Owns a Bakery in Melbourne

question 29

Multiple Choice

Julia owns a bakery in Melbourne.She has four employees who have unique positions: one works as a baker,one applies decorations to the cakes,one works at the counter helping customers,and one markets their catering business. Evie has worked at the counter for six months.She complains to the other workers that she works harder for the amount of income she receives.In this attitude to her work,Evie is expressing the ________ component.

• A)evaluative
• B)cognitive
• C)behavioural
• D)affective

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Definitions:

Price Control

Government-imposed limits on the prices that can be charged for goods and services, typically used to curb inflation or prevent shortages and surpluses.

Price Floor

A government or regulatory minimum price set above the equilibrium price, preventing market forces from reducing prices below that level, often applied to agricultural products.

Price Controls

Government-imposed limits on the prices charged for goods and services in a market, typically to curb inflation or protect consumers.

Deadweight Loss

A loss of economic efficiency that can occur when equilibrium for a good or a service is not achieved or is not achievable.